Category Archives: Economics on the left

The ABC is ecstatic: “free market capitalism is facing a challenge”

From the economically-illiterate ABC: Modern monetary theory is gaining traction. But can it knock out free market capitalism? [Sorry if I am repeating from CL.] Socialist grifters that they are, they have zero understanding how wealth is created and therefore … Continue reading

Posted in Economics and economy, Economics on the left | 12 Comments

Ever wonder why real wages are falling?

METRO TUNNEL COSTS COULD BLOWOUT TO $3B A messy fight is looming over who will pay the huge extra costs of the Metro Tunnel, with the Andrew Government reportedly warned the total blowout of.. The Metro Tunnel is Victoria’s very … Continue reading

Posted in Classical Economics, Economics and economy, Economics on the left | 65 Comments

Poor old Gitt

Sydney Morning Herald economics editor Ross Gittins brings all of the sophistication we’ve come to know and value to the gigantic social and human crisis of a failing aged care system: … Smaller Government mentality … trying to foist Smaller … Continue reading

Posted in Economics on the left | 18 Comments

Distributing incomes to match what each of us deserves

I received a very kind note from someone I had spoken with at the Historians of Economics conference the other day which I had discussed here. She sent me two articles, one from the economist Greg Mankiw, and the other … Continue reading

Posted in Classical Economics, Economics on the left, Philosophy | 3 Comments

Classical inflation

Being a classical economist myself, I understand what the classicals meant when they said that public sector deficits lead to inflation. They meant that if a government ran a deficit, they would eventually be forced to inflate the money supply. … Continue reading

Posted in Classical Economics, Economics and economy, Economics on the left | 19 Comments

If they can bring on a recession to sink Donald Trump they will

Let me start with this sage piece of advice from Henry in the previous post: No sensible purpose is served by the facile criticism of the administration that increasingly pervades the Australian media, and the equally facile ­questioning of the … Continue reading

Posted in Economics on the left | 60 Comments

You cannot trust a party of the left with the management of an economy

From New Data Shows Absolute Economic Destruction During Obama Years. And these figures are not from some ratbag bunch of observers. This is where they are from: The Federal Reserve Bank of St Louis just released this single snapshot of economic performance … Continue reading

Posted in Economics and economy, Economics on the left | 16 Comments

Soak the poor

The astonishing part about modern macroeconomics is how those whose wealth is most comprehensively plundered through public spending and crony capitalism are the ones who are told that everything is being done on their behalf. Governments spend trillions hiring their … Continue reading

Posted in Cultural Issues, Economics on the left | 6 Comments

Government to be subsidising Porsches

Here I was thinking that I has bought my last car and wouldn’t be in the market for another car. But no. Bill Shorten is promising to subsidise Australians into luxury cars. “How long does it take to charge it … Continue reading

Posted in 2019 election, Economics on the left, Politics of the Left, Taking out the trash | 78 Comments

Is the Venezuelan economy suffering from a deficiency of demand?

The Venezuelan economy is in a mess. Everyone knows it; no one denies it. There has been a catastrophic fall in real incomes and wealth. Why? Is it because everyone has decided to save rather than spend? Is it because … Continue reading

Posted in Economics and economy, Economics on the left | 15 Comments